With both unemployment and the stock market at, or near, record highs, most Americans have reason to be confident. It’s easier to find a job in many markets, and even low-level workers are seeing wage increases as giant retailers including Wal-Mart and Target will pay all hourly employees at least $11 an hour.
That wave of good news has led to the majority of Americans having a positive outlook for 2018, according to a new online survey conducted by LendingTree. The data showed that 67% of those surveyed expect their personal finances to improve in 2018.
What does the survey show?
Americans are clearly getting swept up in a sense of economic optimism. Almost one-third of those surveyed (32%) said they expect their finances to get “much better” in 2018 while 35% expected them to get “somewhat better.”
Nearly a quarter of the survey participants (24%) saw their finances staying the same while 6% said they expected them to get “somewhat worse.” Only 2% said they expected the new year to bring them finances that were “much worse.”
Millennials, which LendingTree defines as those 35 and under, were the most optimistic. Nearly 80% of people in that age group expected their finances to improve this year. People over 50 were less cheery with only 55% saying they saw financial improvement ahead.
People want less debt
In addition to asking people how they felt about their finances in 2018, the survey…